ISLAMABAD: The Federal Export Development and Promotion Board (FEDPB) was reconstituted with the objectives of reviewing export performance of the Ministry of Commerce (MoC) and the concerned departments.
“However, the government has no plan to establish offices of the Federal Export Development & Promotion Board in provinces because the subject of International Trade is a federal subject and MoC is the secretariat of this Board,” a source at MoC said.
In the reconstituted 26 member FEDPB, the Prime Minister is the chairman of the Board while FEDPB was reconstituted in July, 2011. The role along with the terms of references (TORs) has also been revised.
Under the revised TORs the FEDPB is responsible for examining all important matters relating to export promotion and to consider ways, & means of improving export performance, to consider long-term plans and projections for the growth of export and to approve policy measures necessary for achieving exports targets.
As per rules and regulations the leading exporters of Pakistan from various sectors have also to be invited to give their proposals and views to further boost exports.
Objective of FEDPBH’s reconstitution was also to provide opportunity to exporters to take advantage of the free trade agreement signed with China as well as trade agreements signed with Afghanistan, particularly utilization of 13 trade routes leading to Central Asian Republics.
FEDPB is also mandated to ensure the implementation of trade agreements with special perspective of performance of exporters of non-traditional items as well as to extend all possible support, as well as incentives for the traders.
Amid Hormuz instability, attention shifts to Pakistan’s Gwadar port
GWADAR: Iran has closed and reopened the Strait of Hormuz several times since the US-Iran war began in February. When...
